LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0107%/8h= −11.7% APRnext payment −$0.13 per $10,000 · paid last 24h −0.014%

Price spread now: Extended against Backpack−0.119%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$260.260% of the position

Long on Backpack Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 4 days (all we have)+0.077%+$8 · spread now −0.119%, 7d avg −0.092%

Together, before fees+0.028%+ Points / potential airdropExtended: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Extended is 0.027% cheaper against Backpack than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.092%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LINK_USDC_PERP	13.105	0.0211	pay 0.0026% / 1h	5m 27s	$362K	$376K	15x
Short	Extended LINK-USD	13.089	0.0104	get 0.0013% / 1h	5m 27s	$667K	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee ExtendedbpOrdersPrice spread, now −0.119%Rate

Funding earned: −$22.4
Price spread: −0.119% → −0.092%: −$2.65
Slippage, 4 orders: −$10.98
Fee Backpack: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$51.03
Costs to cover: 0.260%
Break-even: never at this rate

Slippage from Backpack: live order book, 8 min ago; Extended: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Backpack live order book, 8 min ago	0.38 bp	7.0 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	1.91 bp	5.1 bp −$5	6.5 bp −$65	doesn't fit	doesn't fit

LINK on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0167%	1h	13.089	−0.120%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.104	−0.006%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.093	−0.089%	$725K	$139K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.101	−0.033%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.093	−0.091%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.380%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.086	−0.145%	$132K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.091	−0.106%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.089	−0.119%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.092	−0.099%	$400K	$310K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.094	−0.084%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.094	−0.088%	$275K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.097	−0.061%	$121.7M	$304.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.100	−0.038%	$84.4M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.099	−0.046%	$27.5M	$85.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.111	+0.046%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.090	−0.114%	$129.8M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.097	−0.061%	$36.1M	$58.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.101	−0.031%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.096	−0.069%	$54.5M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.090	−0.114%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.086	−0.147%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.097	−0.059%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.107	+0.015%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.100	−0.038%	$152K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.102	−0.023%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.087	−0.138%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.108	+0.022%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.089	−0.122%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.086	−0.141%	$644K	$880K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	13.089	−0.119%	$667K	$1.9M	25x
Aevo LINK-PERP	+0.0104%	1h	13.091	−0.105%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.111	+0.046%	$993K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERPlong	+0.0211%	1h	13.105	long leg	$362K	$376K	15x
BloFin LINK-USDT	+0.0220%	8h	13.097	−0.061%	$5.2M	$16.2M	75x	as long as short
Hyperliquid LINK	+0.0290%	1h	13.115	+0.076%	$77.8M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.097	−0.059%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0479%	1h	13.099	−0.045%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0490%	8h	13.107	+0.015%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0528%	1h	13.096	−0.072%	$347K	$48K	10x	as long as short